If you could use a computer app to find Statistics Canada time series, view and analyze them and download them, along with the table they are contained in if you wish, then I invite you to give my findstats app a try: philipsmith.ca/getstats/fin...

Here's what has happened to US federal government payroll employment lately, in a longer-term context. The data extend to February 2026 and come from BLS.

The Americans keep relearning the same lesson over and over again. They learned it in Vietnam and again in Iraq. Now it comes once more in Iran. When attacking a determined enemy on their own soil, they will fight back in ways you don't expect. Your bombs and heavy hardware are not enough.

Here's Canada's population growth rates since 1946. The 2020s have clearly been quite atypical, to say the least. #cdnecon

Statistics Canada released fourth quarter population estimates this morning. The total population continued to decrease (black line) due mostly to a net decline in the number of non-permanent residents. #cdnecon

Claude is amazing. Here's an app it created for me in no time at all that provides information and charts for any Statistics Canada time series vector number. Give it a go. #cdnecon www.philipsmith.ca/statcan/stat...

Mr. Poilievre takes journalists' questions of late. Today he was criticizing the govt for not starting a new pipeline project yet. A journalist should ask him how specifically the govt should do that. Ignore aboriginal rights? Ignore provincial objections? Assume the financial risks federally?

Estimated labour productivity growth in Canadian business surpassed that in the US between 1947 and 1985, fell short by 1.2 percentage points between 1985 and 2010, was about the same between 2010 and 2019, and fell short again between 2019 and 2025, this time by 1.4 percentage points. #cdnecon

Data released by Statistics Canada today indicate that capital expenditures in Canada's oil and gas extraction industry ticked up modestly in the fourth quarter. #cdnecon

I invite you to read my new substack release on the affordability issue in Canada and the US. philip635.substack.com/p/affordabil...

In the light of StatCan's upward revisions to real GDP last November, we now see the economy has generally been operating a bit above its pre-pandemic trend line since 2021, although it dipped slightly below it again in 2025 Q4. #cdnecon

Here is my chart summary of today's 2025 Q4 national accounts release from Statistics Canada. #cdnecon www.philipsmith.ca/Canadian_nat...

SEPH for December shows a 0.2% drop in employment vs. November. Total weekly compensation of employees was up 0.2% in the month and 2.6% compared to a year earlier. Real fixed-weight AHE decreased 0.2%. philipmsmith.shinyapps.io/SEPHbrowser/

Canadian restaurants were clobbered by the pandemic, but had recovered, in terms of revenue at constant prices, by late 2022. They experienced a temporary boom in late 2024 and early 2025 thanks to the GST/HST holiday on restaurant meals. Since then they have not changed much.

The US Bureau of Economic Analysis released preliminary estimates for US GDP today. You can explore some of the details in my browser here: philipmsmith.shinyapps.io/NatAcctsUSA/

Here is an update to my compact set of 100 Canadian macroeconomic indicator charts. www.philipsmith.ca/Canadian_mac...

Looking in on what's been happening to consumer and business insolvencies in Canada as of December, the former continues to trend up and the latter down. #cdnecon

I had not noticed until now, but according to LFS, total labour compensation decreased marginally in January, on a seasonally adjusted basis. Monthly volatility must be recognized, certainly, but this was an unusually big December-to-January change and it may portend a major economic downturn.

According to Rentals.ca, the average asking rent in Canada was down 2.0% in January compared to a year earlier, continuing the decline that has been evident since October 2024. The December-to-January movement, however, suggests the decline may be coming to an end. #cdnecon

December new motor vehicle sales data for Canada, released by StatCan today, indicate dealer revenues are continuing to trend down, as are the number of units sold. They peaked in March 2025. #cdnecon

StatCan released monthly building permits statistics for December 2025 today. The data are extremely volatile, but appear to show residential construction trending down and non-residential construction activity fairly flat. #cdnecon

This chart shows average weekly hours worked by employees. The total for all industries decreased by 8.2% over the period, or an average of 0.2% a year. This is partly substitution of part-time for full-time employment. The downward trend is present in almost all industries.

Canada's LFS measures the number of hours employees work in their main job. The 2nd chart shows shares of total hours worked by industry from 1987 to 2025. Notable is the steady decline of the goods-sector, especially manufacturing, though construction has trended up. Services are a mixed picture.

1/ A half-century ago Arthur Okun, an American economist, invented the 'misery index' as the sum of the unemployment rate and the inflation rate. It is a very crude measure of general economic misery, to be sure, and it can be roundly criticized from many angles.

Canadian LFS employment rate, participation rate and unemployment rate, 1921 to 2025. #cdnecon

Canadian LFS key variables, annual per cent change, 1922 to 2025. #cdnecon

Canadian LFS key variables, 1921 to 2025. #cdnecon

Total hours worked in Canada's economy stopped growing in January, according to LFS. The 12-month growth rate of hours worked had been on a steady decline since the post-pandemic resurgence. For details on today's LFS release for the month see my LFS browser: philipmsmith.shinyapps.io/LFStables/

Here's the way objective reporters in the U.S. assess the results of the Conservatives' leadership vote on Friday.

Statistics Canada reported today that SEPH employment decreased slightly in November. SEPH has been showing a lot less employment growth for the last three years than LFS, probably due to the effect of the swings in the non-permanent resident population within LFS methodology. #cdnecon

The strength of Canada's economy is highly dependent on world commodity prices. Entering 2026 it continues to benefit from high prices of metals and minerals and relatively good prices for agricultural and fish products, but energy and forestry prices are somewhat in the doldrums. #cdnecon

2025 was a year of continued surging in the labour force population and rapid growth in employment, according to Canada's LFS. Nevertheless unemployment rose as the labour force also expanded a lot. SEPH, though not yet complete for the full year, showed a weaker employment picture. #cdnecon

I released a paper on substack this morning casting the fiscal numbers from Canada's November 4 budget in a long-term historical context. #cdnecon philip635.substack.com/p/government...

1/2 The labour income share of gross domestic income remained higher in the US than in Canada in 2025 Q3, although the US share has been trending down for decades and the gap is narrowing. The US business income share is near its all-time high, well above Canada's.

With yesterday's murder by ICE in Minnesota, the ICE masks and chemical weapons, their refusal to allow pictures of their activities and the ICE leader telling lies about the murder and refusing to allow an honest inquiry, ICE must now be regarded as the US Gestapo. The full nazification of America.

The relative price of food in Canada has been trending up since early 2009. It took a large leap in the second half of 2022, stabilized and then rose further in 2025. But it has dropped before and could do so again in 2026 if the Canadian dollar strengthens and the weather is favourable. #cdnecon

Part of the annual Globe and Mail chart package was released online today. I submitted a chart on the "affordability" issue and you can see it at the following link if you are interested. www.theglobeandmail.com/gift/10a5920...

If you are interested in this kind of thing, I invite you to read my latest substack release on seasonality in Canada's CPI. philip635.substack.com/p/the-import...

The University of Michigan index of consumer sentiment in the US reached another low point in December as households held expectations of higher inflation and rising unemployment in 2026. The index was 33% below its December 2024 level. #usecon

This is wise. From The Functionary, by Kathryn May at 44615331.hs-sites.com/downsizing

For those interested, my national accounts browser is now up-to-date with the revisions and latest quarterly data. #cdnecon philipmsmith.shinyapps.io/Flexible-tab...

Canadian new housing prices have been on a slow declining trend since the summer of 2022, based on Statistics Canada's New Housing Price Index. They were unchanged from the previous month in November. #cdnecon

Employment has not changed much this year, according to the payroll survey. #cdnecon philipmsmith.shinyapps.io/SEPHbrowser/

With the 3rd quarter population decrease factored in plus the national accounts upward revisions to GDP announced 2-3 weeks ago, the picture looks a bit brighter for the real-GDP-per-capita ratio many have been concerned about. The ratio has been trending up again since the end of 2023. #cdnecon

This morning Statistics Canada reported an unprecedented -0.2% decrease in Canada's population in the third quarter of 2025. The drop was 76,068 people, leaving the population standing at 41,575,585 on October 1, 2025. #cdnecon

Checking in with the Sahm indicator. It says the recession scare in Canada is over for the time being. #cdnecon

StatCan data for Oct indicate urban transit passenger trips have been edging down marginally though associated own-source revenues have been trending up due to fare increases. Trips remain below the pre-pandemic level in most parts of Canada except the Atlantic region, perhaps due to work-from-home.